Restructuring Charges

12 Months Ended

Dec. 31, 2017

Restructuring Charges.

Restructuring Charges

(5)          Restructuring Charges

2016 Restructuring

As part of an end-to-end review of its business, the Company determined that its strategy is to increasingly focus its resources on its core capabilities in liquidity, execution, analytics and workflow technology solutions. To that end, in 2016, the Company implemented restructuring plans that (i) reduced headcount in its single stock sales trading and sales organizations, (ii) closed its U.S. matched-book securities lending operations and its Canadian arbitrage trading desk and (iii) identified additional annual cost savings from management delayering and the elimination of certain positions. 

Activity and liability balances recorded as part of the restructuring plan through December 31, 2017 are as follows (dollars in thousands):

	Amount
Balance at December 31, 2016	$	3,157
Utilized—cash (primarily severance related)		(3,119)
Accrual adjustment		(58)
Currency translation		26
Balance at December 31, 2017	$	6

The payment of the remaining accrued costs is expected to continue through the first quarter of 2018.